 "Stocks to Watch: RIL, RR Kabel, Tata Motors, Bank of Maha, Bharat Dynamics")
Stocks to Watch on Wednesday, September 20: Equity markets may start on a rocky note on Wednesday amid a risk-off sentiment as China left its one-year and five-year loan prime rates unchanged and traders braced for the US Federal Reserve's rate decision Wednesday night.
At 7:40 AM, Gift Nifty was down 103 points at 20,075 levels. Elsewhere, Japan's Nikkei was down 0.11 per cent, South Korea's Kospi shed 0.13 per cent, Australia's ASX200 fell 0.6 per cent, and China's CSI 300 dropped 0.3 per cent.
Overnight, all three major US indices lost ground with the Dow Jones Industrial Average shedding 0.31 per cent, the S&P 500 sliding 0.22 per cent, and the Nasdaq Composite losing 0.23 per cent.
Meanwhile, here's a list of stocks to watch out today:
Reliance Industries: RIL's telecom arm Reliance Jio, on September 19, launched the Jio AirFiber and its related services in eight metro cities – Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata, Mumbai, and Pune.
In other news, BQPrime has reported that South Korean beauty and cosmetics conglomerate Amorepacific Corp plans to quadruple its physical stores in India, of which a hundred will be opened in partnership with Reliance Retail Ventures' Tira.
That apart, PTI has reported that the price of natural gas produced from difficult areas like KG-D6 of Reliance Industries is likely to be cut by about 14 per cent from next month in line with softening energy prices.
HDFC Bank: The Reserve Bank of India (RBI) has approved the re-appointment of Sashidhar Jagdishan as the managing director (MD) and chief executive officer (CEO) of HDFC Bank for three years starting from October 27, 2023.
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RR Kabel: The FMEG company is set to make its debut at the stock exchanges on Wednesday, September 20, becoming the first entity to make a T+2 listing, which is listing after two working days from the closure of the issue.
Thyrocare Technologies: The company entered into a Subscription Agreement at Tanzania with Kastipharm Limited and other individuals on September 19, 2023 for setting up a joint venture company for the purpose of providing diagnostic and healthcare services to customers directly.
Tata Motors: The Tata Group company will increase commercial vehicle prices by up to 3 per cent from October 1.
Bharat Dynamics: Bharat Dynamics Limited (BDL) has signed a contract with IAF for supply of Surface to Air missiles worth Rs 290.90 crore.
Mawana Sugars: The company has taken a scheduled stoppage to undertake the routine maintenance work at Nanglamal Sugar Complex distillery w.e.f September 18, 2023, due to the non-availability of molasses release permits by Uttar Pradesh Excise Department to distilleries operating in the State. The company said the molasses from our sugar units cannot be transferred for continuing the operations.
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Welspun Corp: Welspun Corp entered into an agreement on September 18 with a reputed party for liquidation of a part of specified assets lying at Dahej Shipyard of the company for a consideration of approximately Rs 80 crore.
Biocon: The drugmaker appointed Peter Bains as Biocon Group CEO with immediate effect.
Zydus Lifesciences: Zydus has received EIR for the formulation manufacturing facility at SEZ 2, Ahmedabad, from the USFDA. This was a Pre-Approval Inspection (PAI) and concluded with NIL observations.
Bank of Maharashtra: The Indian Renewable Energy Development Agency (IREDA) has signed a Memorandum of Understanding (MoU) with the Bank of Maharashtra to fund a diverse spectrum of renewable energy projects.
Ashoka Buildcon: The company has received Notifications of Award from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for various projects under the 'Development of Distribution Infrastructure under Revamped Distribution Sector Scheme (RDSS) for Loss Reduction Works'. The accepted contract value in aggregate for all the projects is Rs 645.7 crore (excluding GST).
Fund raise plans: Respective Boards of Vinny Overseas (Sept 26), Star Housing Finance (Sept 25), and Karnataka Bank (Sept 22) will meet to consider fund raise via various options
Lemon Tree Hotels: The hospitality chain has launched a new property at Haridwar, Uttarakhand, marking its eighth property in the state.
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Blue Star: The company launched its QIP on September 18 to raise funds up to Rs 1,000 crore. The floor price for QIP is set at Rs 784.55 per share.